This Silver Bullion review looks at a Singapore dealer that sells gold, silver and platinum from a shop at Millenia Walk and stores clients’ metal in vaults at The Reserve in Changi. As at November 2026, it charges 0.35% a year to store gold at its standard tier, adds 3.5% for Singapore dollar card payments and charges S$100 to withdraw a parcel.
Silver Bullion Pte. Ltd. is on the Ministry of Law’s list of registered dealers under the Precious Stones and Precious Metals Act (PS20190001043, list at the time of writing (November 2026)). Registration covers anti-money-laundering controls only: the Ministry of Law does not regulate a dealer’s prices, storage or finances, and registration is not a licence from MAS. Gold prices can fall as well as rise; past performance is not a guide; gold pays no interest.
What Silver Bullion Offers
- Bars and coins in gold, silver and platinum, bought online or at 9 Raffles Boulevard, #01-108, Millenia Walk.
- S.T.A.R. Storage parcels: specific, insured bars and coins held in your name.
- S.T.A.R. Grams: fractional holdings from 1 g of gold or 25 g of silver.
- Safe deposit boxes at The Reserve, 6 Changi South Street 3.
Premiums vary by product and are shown as prices, not percentages. Work out the markup on any quote with our gold premium calculator.
Silver Bullion Review of Charges as at November 2026
| Item | Charge |
|---|---|
| Gold storage (standard / discounted / bulk) | 0.35% / 0.30% / 0.25% a year |
| Silver storage (standard / discounted / bulk) | 0.70% / 0.60% / 0.50% a year |
| S.T.A.R. Grams gold | 0.35% a year, calculated daily |
| Parcel withdrawal | S$100 per parcel |
| Delivery in Singapore (up to 500 kg) | S$400 per trip |
| Card payment in SGD / USD | 3.5% / 4.5% of the transaction |
| Order cancellation | Higher of 5% or S$45, plus any market loss |
| Safe deposit box (Class I / Class II) | S$1,600 / S$1,280 a year, including GST |
Tiers use points: 10 points for each troy ounce of gold, with the discounted rate from 10,000 points (about 1,000 oz of gold). The schedule of charges shows no effective date and does not mention GST on storage, so check before you sign up.
The short version: clients hold legal title to identified, insured metal checked by external auditors every quarter. The trade-off is 0.35% a year on gold for most holders, a S$100 fee to take each parcel out and up to 4.5% on card payments.
How the Storage Works
Silver Bullion says S.T.A.R. Storage clients “hold legal title to identified bullion”, and that it acts as an agent and does not record client metal on its balance sheet. The vaults are run by The Safe House within The Reserve.
It says the metal is insured with Lloyd’s of London against third-party theft, inside jobs and “mysterious disappearances”, and external auditors inspect stored parcels every quarter (the auditor is not named on the page). Gold and silver are stored in separate vault configurations. Our guide to storing gold safely covers allocated storage and insurance.
Selling Back
The sell page says Silver Bullion buys investment-grade (.999 or higher) gold, silver and platinum “regardless of where the bullion was originally purchased”. Lower-purity gold and silver are priced separately as scrap. It may revise a buy-back price for damaged products.
Shop sales over S$100,000 are paid within two to five business days. From 7 March 2026, a 12-hour bank cooling-off period for new payees means a first payment may sit in your cash balance before you can withdraw it. See our guide on how to sell gold in Singapore.
Worked Example: S$10,000 of Gold for a Year
Our own numbers, using the published charges:
- Paying by SGD card: 3.5%, about $350. Paying another way avoids it.
- Storage at the standard tier: 0.35% of $10,000 is $35 a year.
- Taking delivery later: $100 per parcel.
So a year’s storage on $10,000 costs about $35, but collecting the metal adds $100. If you want gold at home, buying and collecting in the shop avoids the vault costs, though you then take on the risk yourself. Compare holding costs with the gold investment return calculator.
Drawbacks and Who It Does Not Suit
- Withdrawal fee per parcel. Several small parcels mean several $100 charges.
- Card charges of 3.5% (SGD) or 4.5% (USD).
- Cancellation costs at least 5% of the order or $45.
- No buy-back spread published. You see prices, so compare buy and sell quotes yourself on the same day.
It does not suit someone planning to move small amounts in and out of the vault often. Alternatives: BullionStar, UOB’s Gold Savings Account or a gold ETF on SGX. Our comparison of where to buy gold puts them together.
What To Do Next
- Confirm the dealer is on the Ministry of Law list on the day you buy.
- Ask whether GST applies to storage, and get today’s buy-back price for the item you are considering.
- Read how to buy gold in Singapore to see how vault storage compares with the other ways to buy, and silver investing basics if you are buying silver.
- Do your own due diligence. This review is general information, not a recommendation.
